Lord Mayor of London to visit South Korea to build on success of Fintech Bridge

The Lord Mayor of the City of London, Charles Bowman, is to visit South Korea from 12 to 13 July 2018 to promote cooperation in fintech and green finance.

As a global ambassador for the UK's financial and professional sector, and Chair of the UK’s Department for International Trade Fintech Board, the Lord Mayor will meet with business and regulatory heads in Seoul to discuss how to build on the success of the UK- Republic of Korea Fintech Bridge, an agreement signed in July 2016 to boost fintech exchanges between the two countries.

The visit comes in the wake of the UK- Republic of Korea Financial Dialogue on 27 June 2018, where the Financial Conduct Authority and the Korea Financial Services Commission agreed to develop a firm referral mechanism to help fintech companies from both sides more easily expand into each other’s markets.

The Lord Mayor will also meet with former UN Secretary General Ban Ki-Moon to discuss his Business of Trust programme, a City Corporation initiative aiming at creating better business trusted by society.

Lord Mayor of the City of London Charles Bowman said:

“My visit to Seoul comes almost two years after UK and South Korean regulators signed their Fintech Bridge agreement.

“I look forward to speaking to business heads and regulators about how we can build on this milestone document, so that we can turn the bridge into a superhighway.

“Another important part of my visit will focus on the promotion of my and the City Corporation’s Business of Trust campaign, and I look forward to meeting Ban Ki-Moon and hearing his views on the subject.”

FCO Minister of State for Asia and the Pacific Mark Field said:

“I’m delighted the Lord Mayor of London is visiting Seoul in what has been a busy month for UK-Korea policy and business dialogue on financial collaboration.

“I have visited myself both as Minister of State for Asia and the Pacific, and as Member of Parliament for the City of London. On each visit I have been struck by the scale of the opportunity for greater collaboration.”

The City of London Corporation has a programme of engagement with countries across Asia, and regularly takes part in bilateral financial dialogues alongside HM Government.

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Notes to editors

The City of London Corporation is the governing body of the Square Mile dedicated to a vibrant and thriving City, supporting a diverse and sustainable London within a globally-successful UK. www.cityoflondon.gov.uk